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Erschienen in:
2018 | OriginalPaper | Buchkapitel
17. Financial Innovations
verfasst von : Mats Larsson
Erschienen in: Circular Business Models
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Abstract
Throughout history, financial innovations have facilitated industrial and economic development. After the First World War, the Bretton Woods system was implemented, consisting of fixed exchange rates and a reliance on the gold standard. Among important financial developments to facilitate international cooperation, counterpart funding may be mentioned and micro-financing and complementary currency systems have arisen in different parts of the world as needs have driven financial innovators along innovative paths. Recently cryptocurrencies and crowd funding have seen the light of day. Larsson argues that, in order to drive the development of circular economic systems forward, there will be a need for financial innovations, especially at the level of the overall economy. With reduced supplies of resources, it is likely to become impossible to fuel ongoing economic growth, which will create a demand for an entirely new economic system.